The week on Wall Street ended on a positive note, as an unexpectedly large jump in retail sales give investors hope that the holiday shopping season will give the economy a shot in the arm. Elsewhere, the House approved a massive financial overhaul plan, the details of which investors are still digesting in an attempt to analyze its impact on the financial sector.
The ETFdb 60 Index, a benchmark measuring the performance of asset classes available through through exchange-traded funds, gained 2.22 points, its third consecutive winning session.
The story of the day was the Claymore/NYSE Arca Airline ETF (FAA), which added more than 7% on news of a potential deal between Japan Airlines and either Delta or AMR that could give the U.S.-based carrier greater visibility in Europe. Shares of DAL added almost 14% while AMR finished the day up more than 9%.
The United States Natural Gas Fund (UNG) gave back some of the big gains from Thursday, losing 1.9% as the reality of a massive glut is gas supply continued to set in. News that inventories had finally begun declining gave gas prices a boost in the previous session, but inventories are still nearly 15% higher than they were at this time last year. For updates on the day’s biggest ETF winners and losers, sign up for our free ETF newsletter.
Disclosure: No positions at time of writing.